How profitable is Piper Sandler Companies (PIPR)?

In FY 2025 (10-K), PIPR converted $1.8B of revenue into a 52% gross margin, 18.1% operating margin, and $504.1M in free cash flow (27.5% FCF margin).

Stock Ratings / Financials / PIPR / financials

MRX (59) BGC (65) CII (45) MKTX (83) ⌘ Pro Terminal →

Piper Sandler Companies (PIPR) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$63.81 -7.14% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $62.87

Piper Sandler Companies (PIPR) carries a Roarable Rating of C (Hold) with 63/100 RQD Confidence. The composite score sits in the neutral Hold band (59–69), meaning current holders don’t need to panic-sell while prospective buyers can wait for a move into the 70+ Buy zone.

📊 Historical Track Record: Scores of 63/100 (C) historically posted market-perform odds over rolling 90-day windows (+0.9% avg 90D alpha vs SPY) →

ROARABLE C • HOLD / WATCH Cap $4.51B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on PIPR Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is PIPR stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Piper Sandler Companies (NYSE: PIPR) is rated C (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 63/100 at a spot price of $63.81 (-7.14% 1D, market cap $4.51B). Pillar breakdown: Fundamental Cash Engine 18/20, Institutional 13F & Options Flow 5/20, Executive Insider Alignment 15/20, FRED Macro Regime Fit 7/20, and SEC Balance-Sheet Forensics 18/20. Across 1096 tracked Financials issuers, PIPR ranks #300 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does PIPR compare to MRX and BGC in the Financials sector?

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Within the Financials sector (Investment Bankers/Brokers/Service), PIPR carries a Roarable C (63/100 RQD), trailing P/E of 17.3x, gross margin of —, and ROIC of 18.3%. By comparison, MRX (Marex Group Limited) holds a C- grade (59/100 RQD, P/E 32.8x, ROIC 9.9%, cap $4.77B) and BGC (BGC Group Inc. (Class A)) posts a C grade (65/100 RQD, P/E 36.3x, ROIC 15.1%, cap $5.24B). Among the 5-stock peer group, PIPR leads on earnings multiple (17.3x) while MKTX leads on capital efficiency (28.4% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for PIPR?

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Per PIPR's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001230245), Piper Sandler Companies generated $1.83B in revenue (+21.7% YoY), $281.3M in net income, and $504.1M in free cash flow against $2.59B in total assets and $454.4M in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks.. Primary risk factors monitored: Sensitive to high interest rates and tighter Federal Reserve market liquidity.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $62.87 (-1.48%)🧬 Cannibal Buyback (-2.92% YoY Shares)⚙️ Cash Engine: 18/20 (A) • 27.5% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 63/100 (C) historically posted market-perform odds over rolling 90-day windows (+0.9% avg 90D alpha vs SPY • 54.8% hit rate — wait for RQD ≥ 70 breakout).

Audit Bucket Track Record →

RQD QUANT TACHOMETERHOLD / WATCH • C

2-of-3 JEV AI Jury Bullish

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw C+ · Rk D+

Each axis scored 0–20

12M PRICE TARGET CONE+2.3% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for PIPR)Realized 20D OHLCV Swing Band: ±7.4%

Deterministic 5-Pillar Attribution (63/100 Composite)

🔍 WHY PIPR SCORES 63/100 (C) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Cash Engine Quality+18/20 pts (29% of score)

SEC XBRL FY 2025 (10-K): 27.5% FCF Margin ($504.1M FCF) & 52% Gross Margin

▲ #2 Bullish Driver: Insider Conviction & Share Dilution+18/20 pts (29% of score)

SEC Form 4 / 13F Thermometer: 86% Net Buy • Cannibal Buyback (-2.92% YoY Shares)

▼ #1 Drag / Risk Factor: Whale & Options Positioning5/20 pts (-15 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-15 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade B$64.48-0.1% Next Q

Q2 (-2Q)

Grade B-$64.40+4% Next Q

Q3 (-1Q)

Grade B-$66.96-4.7% Next Q

Current

Grade C$63.81+0.9% Hist 90D α

Trajectory: B (71) → C (63)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the PIPR Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 63/100 (C) score, PIPR faces multiple-compression risk if 17.3x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Sensitive to high interest rates and tighter Federal Reserve market liquidity.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.92% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($69.42) or 200D SMA ($76.69) invalidates the momentum regime and cuts Target Base ($65.25) toward Bear Floor ($50.90).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $PIPR• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “PIPR Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 63%NO 37%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How PIPR Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$504.1M (27.5% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $1.30B

FY24

Rev $1.51B

FY25

Rev $1.83B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$1.83B	52%	18.1%	$281.3M	$504.1M	17%
FY 2024	$1.51B	52%	14.2%	$181.1M	$245.5M	12.4%
FY 2023	$1.30B	52%	9%	$99.0M	$217.1M	5.7%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring PIPR)

✓Walkthrough of PIPR's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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Join Founding VIP Waitlist (No Card Required) →$100K Arena

PIPR // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -17.84%▼ DESCENDING CHANNEL

2026-11-03O $68.72H $68.72L $63.81C $63.81VOL 1.58M

RES: $75.37SUP: $59.14SMA50: $69.42SMA200: $76.69

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

PIPR Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 PIPR Butterfly Map → + Track PIPR →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

10.3%/yr Implied 5Y Growth

vs. +21.7% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on PIPR today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for PIPR. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for PIPR today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (PIPR)

Financials Rank #300 of 1096 ⚔️ MRX vs PIPR Full Matrix →

1. Head-to-Head Financials Peer Comparison (PIPR vs. MRX, BGC, CII, MKTX)

Industry: Investment Bankers/Brokers/Service (64 Tracked Issuers)

Across 1096 tracked Financials securities in the Roarable RQD universe, Piper Sandler Companies (PIPR) ranks #300 by composite RQD confidence (63/100, grade C) and #288 by equity capitalization ($4.51B). Within this direct 5-issuer industry benchmark cohort, PIPR leads on earnings valuation at 17.3x trailing P/E, while MKTX leads on capital efficiency and profitability with 28.4% ROIC and — gross margin. MKTX currently holds the highest overall quantitative score in the immediate peer group at 83/100 (A-) compared with PIPR at 63/100 (C).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
PIPR ACTIVE Piper Sandler Companies	C	63/100	17.3x	—	18.3%	-7.14%	$4.51B	Benchmark Subject
MRX Marex Group Limited	C-	59/100	32.8x	—	9.9%	-0.98%	$4.77B	/mrx-vs-pipr →
BGC BGC Group Inc. (Class A)	C	65/100	36.3x	—	15.1%	-1.66%	$5.24B	/bgc-vs-pipr →
CII BlackRock Enhanced Large Cap Core Fund Inc.	D	45/100	—	—	—	-1.42%	$3.50B	/cii-vs-pipr →
MKTX MarketAxess Holdings Inc.	A-	83/100	23.5x	—	28.4%	+0.23%	$5.82B	/mktx-vs-pipr →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001230245

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Piper Sandler Companies (PIPR) reported GAAP revenue of $1.83B (+21.7% vs. FY2024 revenue of $1.51B , and +40.9% cumulative change since FY2023) , GAAP net income of $281.3M, operating cash flow of $586.6M, and free cash flow of $504.1M (+105.4% YoY). On the balance sheet, PIPR closed FY2025 with $2.59B in total assets against $454.4M in total debt (Altman Z-Score: N/A, Piotroski F-Score: 9/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$1.83B	$281.3M	$586.6M	$504.1M	$2.59B	$454.4M
FY2024 (FY)	2024-12-31	$1.51B	$181.1M	$313.3M	$245.5M	$2.26B	$378.1M
FY2023 (FY)	2023-12-31	$1.30B	$99.0M	$275.6M	$217.1M	$2.67B	$625.0M

3. PIPR Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is PIPR stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does PIPR compare to MRX and BGC in the Financials sector?

What are the biggest fundamental strengths and SEC risk factors for PIPR?

Where is PIPR trading relative to its 50-day, 200-day, and 52-week technical levels?

PIPR last traded at $63.81 (-7.14% on volume of 1,575,259 shares), positioning the stock -8.08% below its 50-day simple moving average ($69.42) and -16.79% below its 200-day simple moving average ($76.69). Across its 52-week range of $61.35 to $95.07, PIPR sits at the 7.3% percentile with a 14-day RSI of 43.1 (NEUTRAL RANGE) and an implied next-earnings move of ±7.4% ($59.09 to $68.53).

Direct Sub-Reports: PIPR RQD Cockpit PIPR 12M Forecast PIPR Earnings & Move PIPR Dividends & DRIP PIPR Insiders & 13F PIPR Whale Options PIPR Profit Sankey PIPR News & Why

ROARABLE RATING BRIEF • RQD 63/100 (C) ✓ STAGE-C NUMBER FIREWALL VERIFIED

PIPR — Piper Sandler Companies: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:21:04Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, PIPR scores 67 out of 100 with a letter grade of C+, labeled "Roarable Hold — Upper Neutral / Watch for Breakout." The pillar scores are: Fundamental Cash Engine 18/20 (ROIC 18.3%; FCF yield 10.38%), Whale 13F Flow 9/20 (institutional accumulation and options positioning), Insider Conviction 18/20 (SEC Form 4 and Congressional PTR cluster flow), Macro Regime Fit 7/20 (Beta 0.99; sector sensitivity), and Forensic Balance Sheet 15/20 (Altman Z 2.5; Piotroski F 9/9; Debt/Equity 0.5).

For a prospective investor, the strongest pillars are cash generation and insider flow, both of which sit near the top of the scale. The weakest pillars are macro regime fit and institutional 13F flow, which are the components most likely to limit upside in the near term. The beta of 0.99 indicates the rating treats the stock as moving roughly in line with the broad market, and the modest macro score reflects its sector sensitivity rather than a directional call. Valuation tradeoffs are visible in the market data: the trailing P/E of 17.3 compares with a forward P/E of 14.5, which implies higher expected earnings per share in the coming period, but that expectation is not itself confirmed by the sources. The 10.38% FCF yield is a notable cash-based anchor relative to the price of $68.72.

Business

Piper Sandler Companies (PIPR) is a NYSE-listed issuer classified under the Financials sector and the Investment Bankers/Brokers/Service industry. it operates in that industry with a market capitalization of $4.9B.

Recent Catalysts & News Wire Analysis

Recent headlines carry a mix of signals. Yahoo Finance coverage describes an earnings preview stating that Q3 earnings were expected to decline, and a subsequent report states that Q3 earnings and revenues lagged estimates; both are flagged YELLOW. A TradingView item covers management commentary from the Q3 earnings call, and a Globe and Mail item presents the Q3 2026 earnings call transcript, both also YELLOW. A Stock Titan item reports that Piper Sandler authorized share buybacks and declared a $0.20 quarterly dividend, flagged GREEN as a CATALYST. Risk watch items are the reported Q3 shortfall against estimates and the expected earnings decline. The Butterfly supply-chain graph reports no supply-chain links and no proprietary signals.

Butterfly Effect: 2nd-Order Supply-Chain & Sector Ripples

Per the Butterfly Supply-Chain Graph, the supply chain is listed as NONE, with no butterfly links and no proprietary signals. Upstream and downstream dependencies, sector correlations, and second-order bottlenecks are therefore — The only sector context available is the Financials / Investment Bankers/Brokers/Service classification and the beta of 0.99, which indicates market-level sensitivity rather than a named ripple path.

Analyst View & Smart Money Ownership

Analyst data: —

Holders (SEC Form 4 insider, 13F institutional, and Congressional trades): —

Open Questions

What are the specific Q3 earnings and revenue figures versus estimates, and what drove the shortfall?
What is the cash and EPS figure for each reported fiscal period, since the source lists them as N/A?
What are the buyback size and timing authorized in the recent capital-return announcement?
What institutional 13F and insider transactions underlie the whale and insider pillar scores?
What supply-chain or sector-level dependencies, if any, affect the business?

PIPR Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Piper Sandler Companies (PIPR) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to PIPR Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance • 19h ago

Earnings Preview: Piper Sandler Companies (PIPR) Q3 Earnings Expected to Decline

Yahoo Finance report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 22h ago

Piper Sandler Companies (PIPR) Q3 Earnings and Revenues Lag Estimates

Yahoo Finance report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

What Piper Sandler Companies (PIPR) Said on Its Q3 Earnings Call

TradingView report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Simply Wall St • 1d ago

Piper Sandler Companies (NYSE:PIPR) Stock Price

Simply Wall St report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE The Globe and Mail • 1d ago

Piper Sandler (PIPR) Q3 2026 Earnings Call Transcript

The Globe and Mail report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Stock Titan • 1d ago

Piper Sandler authorizes share buybacks and declares a $0.20 quarterly dividend.

Stock Titan report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

Piper Sandler Companies Estimates – NYSE:PIPR

TradingView report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Simply Wall St • 1d ago

Piper Sandler Companies (PIPR) Faces Earnings Uncertainty, Is The Stock Still A Bargain?

Simply Wall St report covering Piper Sandler Companies (PIPR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

PIPR Bull vs. Bear Conversation Board — What's Your Call at $63.81?

🐂 50% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON PIPR 🐻 50% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk ⚖️ DEBATE HOST 🎯 Target: $74.22 (+8.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is PIPR (C+ • RQD 67/100) a Buy at $68.72?

Welcome to the PIPR (Piper Sandler Companies) Roar Pit. Current RQD Composite is 67/100 (Roarable Hold — Upper Neutral / Watch for Breakout) in Investment Bankers/Brokers/Service. Bulls point to capital efficiency (18.3% ROIC), while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

RI RiskArb_Desk Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $52.91 (-23.0%)

Spot @ $68.72

Pump the brakes on PIPR — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on PIPR, but look at what you are paying: 17.3x trailing P/E with tightening sector spreads. Unless Piper Sandler Companies expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

MA MacroHawk_NYC Verified K Arena Trader 🐂 BULLISH 🎯 Target: $83.15 (+21.0%)

Spot @ $68.72

PIPR cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on PIPR, the market is fixating on short-term headline noise in Investment Bankers/Brokers/Service and ignoring the balance sheet and cash flow trajectory. At $68.72 (52-wk range $61.35 - $95.07), any beat on forward guidance forces shorts and underweight funds to chase.